Definition
The initial application filed by a bank or financial institution before the Debt Recovery Tribunal seeking recovery of debts above ₹20 lakhs. The DRT adjudicates the OA and if satisfied, issues a Recovery Certificate (RC) authorising the Recovery Officer to recover the amount.
Related Terms
DRTRecovery CertificateRecovery OfficerRDDB Act
Need Expert Advice on Original Application (OA)?
For specific advice on how Original Application (OA) applies to your debt recovery matter, consult Advocate Subodh Bajpai — LLM, MBA (XLRI Jamshedpur). 8+ years of exclusive banking and debt recovery practice across DRT, SARFAESI, IBC, and NI Act.
Defined by Advocate Subodh Bajpai, Senior Partner, Unified Chambers and Associates